Mike Lee

@MonetaryWonk @BVBwinterBFMV 1. IPO not credit 2. Borrowing $100B against stock can be done across 4 banks no problem. They'd be HAPPY to. 4. They underwrote IPO. Borrowing against stock means they have more of his stock 5. He borrowed for twitter, not his personal assets. 2022 had high interest rates.

Mike, seriously, an ipo is not the same as a line of credit. Banks will consider every possible scenario with what could happen with those shares. They will limit their risk to what they are nearly certain they can recoup. Everyone knows Elon’s companies are way overvalued. When musk bought Twitter, he was only able to get $13b from a bunch of banks and his net worth was $220b. They ended up secutitizing the loans to get them off their books. No one wanted to hold that much risk. He owned 15% of Tesla at the time, and his spacex holdings are 45%, which makes them highly illiquid. I doubt he’d be able to get $100b on that.

A staggering number and misleading. This is NOT even close to having $1t in the bank. If he tried to liquidate his holdings, he’d be lucky to end up with 10% of that.

@MonetaryWonk @BVBwinterBFMV i'm being a douschebag ... i know. but i'm also right. Sorry about being a dousche bag but I'm right.

It’s not the same thing. They underwrite for immediate sale into a market which is primed. Note the timing of these is always paramount. Someone has to hold that $100b loan, and if Musk gets hit by a bus, what are they left with? So you can stop with the “know finance” garbage. I know more than you as I have studied banking for years.

@MonetaryWonk @BVBwinterBFMV YES ITS THE SAME THING. If he gets hit by a bus then the bank gets his fucking stock, which there is a market. No you don't. If you don't know this shit then you don't know finance. Maybe you studied being a teller for years. So you're good at counting those 20 dollar bills.

@MonetaryWonk @BVBwinterBFMV ... the banks literally just underwrote his IPO. Goldman and Morgan underwrote his IPO. So yes, he can borrow against the money that they are already putting up. Please learn finance before you respond.

No bank would take that much risk. It would be extraordinarily difficult to secure a total loan that large against stock collateral as volatile as what he owns. The assets themselves are highly inflated. It would take numerous banks and private investors. Maybe $100b is possible, but my guess is considerably lower.

@BVBwinterBFMV @MonetaryWonk ohmgosh ... you're a fucking retard. HIS FUCKING STOCK WAS UNDERWRITTEN BY INVESTMENT BANKS THAT ARE ALSO RETAIL BANKS. HIS STOCK IS HIS FUCKING COLLATERAL WHICH HE BORROWS AGAINST. DO YOU NOT UNDERSTAND HOW THAT FUCKING WORKS? DO YOU NOT KNOW WHAT THE FUCK BORROWING MEANS?

@BWGreyLotus @MonetaryWonk The stock market works by connecting buyers and sellers via brokers. If you want cash from your stocks and shares, you need to find a buyer to buy those stocks. It's simple business

@BVBwinterBFMV @MonetaryWonk Man ... fucking white people. LIke arguing like you understand when you actually don't know what the fuck you're talking about.

@BWGreyLotus @MonetaryWonk If he borrows money he needs to give something in return as collateral. No bank is going to give him 100 billion to waste on helping people, he has to pay that money back somehow or they'll seize assets

@BVBwinterBFMV @MonetaryWonk HIS STOCK IS HIS FUCKING COLLATERAL. THEY JUST UNDERWROTE HIS FUCKING IPO. ARE YOU RETARDED? DO YOU NOT KNOW HOW THAT WORKS?

@BVBwinterBFMV @MonetaryWonk Man, are white people really this retarded in math and finance? Like what's the deal?

@BWGreyLotus @MonetaryWonk If he sold stocks he has to find buyers, potentially cede control of his companies and even cause a drop in the value of his stocks in the company he sold stocks from

@BVBwinterBFMV @MonetaryWonk He doesn't have to sell stock. He borrows against the stock which provides instant liquidity. He calls JPM or Goldman and asks for $100B line of credit against the stock that they just underwrote. The 900B can be done over time in scheduled sell offs or swaps.

@MonetaryWonk @BVBwinterBFMV what in the world ... no, he calls his personal banker at JPM or Goldman and gets a line of credit. I'm not debating whether he uses his wealth to benefit humanity. He does. I'm debating how much of his wealth is liquid. Easy 100B tomorrow without moving the market.

@BWGreyLotus @BVBwinterBFMV You think he just calls etrade and borrows on margin? I doubt he could even get $100b. And fwiw, he does use his wealth to start businesses that actually benefit humanity, unlike Buffet who is beloved for being a glorified scalper.

@MonetaryWonk @BVBwinterBFMV He can spend some of it to solve some of the world's problems. He can borrow against up to $100B tomorrow. The rest of the 900B over time, ~ 10 years w/o crashing the market. You're stupid if you think he can't spend it. They're stupid for thinking he could spend all of it.

@BWGreyLotus @BVBwinterBFMV Bc my feed is filled with stupid posts about how Elon could use his trillion dollars to solve all the world’s problems, when in fact, he can’t spend it.

@aiComingFast @pattern4 @bookwormengr then your anti innovation

@pattern4 @BWGreyLotus @bookwormengr Im pro-regulation generally

Anthropic IPO also has been kneecapped. If Anthropic can not offer the powerful models to rest of the world, this reduces their global market share by 75%. Is it then still a 1T USD market cap company??? Open source will already near Opus/Sonnet and will cross that tier soon...... While I duely respect safety concerns - this is very broad and is akin to throwing baby out with bathwater....the world is going to be split by model access.

@BVBwinterBFMV @MonetaryWonk No shit ... so why does OP talk about liquidity

@BWGreyLotus @MonetaryWonk It's total net worth which includes their income, stocks and shares values and its based on the success of his companies and his portfolio for other companies he has invested into. Billionaires don't actually have billions in cash, they're just worth billions cause of their name

@pattern4 @aiComingFast @bookwormengr everything's possible, but what is all the more likely is that Europe is left in the dust and the US and China control Europe while people go to Europe to enjoy beaches / food while turning to US / China for everything else.

@aiComingFast @BWGreyLotus @bookwormengr It is well possible that it will turn out that detailed, reliable, fair regulation is a much larger asset than everyone believed.

@pattern4 @bookwormengr ... what in the world ... Europe and China are way worse. Look at what happened to Manus Europe is choked with regulation. They should relocate to Singapore.

@bookwormengr The 100x move they could do now is relocate to Europe or China.

@BeijingDai What does Europe have except nice beaches, cool sunsets and good tennis players?

@sircryptotips Rockefeller owned about 2% of US GDP Elon owns about 3% of US GDP. Man white people math is so embarrassing. That's cute though. Good try. Leave the math to the asians and you can keep playing with your crypto.

Whenever I hear people say that Elon Musk has become the world's first TRILLIONAIRE I wonder if these people have ever heard of any names like Rothschilds, Rockefellers, Paul Warburg, JP Morgan etc... Elon Musk is POOR compared to these people

@Linahuaa your Chinese fund can't invest in American investments. You don't have a Chinese hedge fund. You're a stupid as bitch ass german 50 year old dude that pretends to be the same 24 year old girl. I can't believe you're still allowed on X.

@ruima what a ridiculous statement. Try having appendicitis in Shanghai without knowing someone. They'll give you an apprentice surgeon and probably open surgery. It's not true. China / Shanghai is good at routine healthcare. Surgery in China / Shanghai is not better than the US.

10-15 years ago it was the reverse, I got pitched medical tourism / second opinion startups for desperate Chinese cancer patients going abroad (primarily US) all the time due to huge differences in survival rates. It is really crazy how just consistent talent development and investment in R&D & infrastructure compounds over time … ten years is not long at all. And the crazy thing is how quickly this is diffusing through the country. It’s still primarily clustered in the rich areas but the pace of change is astonishing. And it’s not just for advanced procedures either. We considered going to China for some relatively standard procedure that was going to take a literal year to schedule at Stanford for our kiddo. Would have been same day or week in Shanghai.